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Algeria

Life Report

Product Insurance Market Reports Life Rev Algeria

Key Highlights

Get access to Axco’s online product with the latest market intelligence for the market of your choice

 

  • Key insights and explanations of market developments in life insurance, healthcare and pensions
  • Details Algeria's insurance, social security, pensions and healthcare regulatory framework and company and personal tax considerations
  • Current legislation and upcoming changes
  • The latest developments in Algeria's economic and political environment
  • Demographic information
  • Market statistics and company performance

Report Overview

Independent strategic insight, line of business detail, regulatory information & market data for the non-life (P&C) insurance market of Algeria

The Algeria life and benefits market report provides a comprehensive, impartial analysis of the life insurance market of Algeria.  Information extends to extensive detail on healthcare (public and private), pensions and benefits, and social security. Specialist researchers visit Algeria and interview local professionals working across the local market. The report is updated with new information and data regularly throughout the cycle of country visits.

The report provides information about Algeria’s demographic profile and assesses its economic, political, climate, operational, and security risks. Key data on the investment environment in Algeria is available.

Axco’s report describes the regulatory framework that applies to the Algeria domestic life insurance sector, including whether non-admitted insurance is permitted in Algeria; as well as the legislation necessary to know regarding Algeria’s healthcare, pensions and social security.

Statistics include five years of life insurance market performance indicators, including gross written premiums, premium growth and penetration rates. Company statistics show who are the leading life insurance companies in Algeria with local life insurance company premiums, market share and year on year growth.

Life Insurance

Axco provides details on the life insurance sector including Algeria market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.

Healthcare

The report describes the public and private healthcare system in Algeria, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.

Pensions

Axco reports on the three pillars of Algeria pension provision.

  • State pension benefits including benefit calculations and eligibility criteria 
  • Workplace pension provision; types of schemes calculations eligibility and; tax implications
  • Voluntary individual pension provision, type of products and tax implications

Social Security

The Algeria report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

  • state pensions,
  • permanent disability benefit
  • occupational accident and disease
  • maternity and paternity payments 

Algeria Life and Benefits Report Extract

Below are brief extracts of information from the Algeria Life & Benefits Report; more updated information may be available in the latest published report.

Life Insurance

Summary and Trends

PA, health, travel and assistance business are grouped with life insurance business under the category of "assurances de personnel" - which therefore contains some elements of both life and non-life business. Assurances de personnes business was estimated to have represented 8.6% of total gross market premium income in 2018 and an estimated 9.4% of total gross market premium income in 2019. Life insurance premium in 2019 was reported to be 9,607.40 mn DZD. Overall insurance market premium income declined by 6% in 2020 as a whole as compared to 2019, due to the effects of the COVID-19 pandemic on the market and ...

Pensions

Summary and Trends

There is still little understanding of the concept of private investment in a society that has not yet fully emerged from a centrally directed socialist system. State pensions are in the region of 80% of average salary, meaning that pensioners are not significantly poorer than the rest of the population. Social mutuals (mutuelles sociales) in Algeria provide complementary social protection (including retirement) solutions to members over ...

Healthcare

Summary and Trends

PMI policies in Algeria are of the complementary type, allowing the patient to access private healthcare facilities by reducing the gap between prices paid for private care and sums reimbursed to the patient under the state scheme. The state scheme reimbursement system falls short of the routine costs of healthcare treatment and medicines. Generally, group PMI coverage is for a maximum of 80% to 90% of total treatment costs and may be lower at 60% or less.

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